According to a tweet from the official SafeMoon Twitter account, the problems affected all three wallet products. Namely, the website buy and swap function, the Android wallet, and its iOS counterpart.
The market for cryptocurrencies has roughly quadrupled from its 2020 year-end value [File: Paul Yeung/Bloomberg]
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This happens when the promoter of a digital token draws in buyers, stops trading activity and makes off with the money raised from sales.
Overall, Coinmarketcap estimates the global crypto market has shrunk around 10% in the past 24 hours.
Clear regulation would mean the removal of a “significant roadblock for cryptocurrency,” says Wang, since U.S. firms and investors are operating without clear guidelines at the moment.
Brian Shroder, who was previously an executive at Ant Group Co. and Uber Technologies Inc., will oversee the crypto exchange’s strategy, execution, fundraising, business and corporate development, and manage its legal, human resources and product and technology functions, the company said in a statement. Brian Brooks, who had been CEO, resigned recently just months into his tenure amid a slew of compliance setbacks and regulatory scrutiny tied to the crypto exchange’s sister company.
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He added: "You’re simply reliant on someone further down the line being willing to pay more than you did to turn a profit, which is a risky bet indeed."
We are Showing real-time cryptocurrency prices. All the cryptocurrency prices are streamed live from the largest exchanges and then we calculate a volume weighted average of the prices. You search, sort, and filter all coins by using the search field in the top and clicking on the table's top rows (on the all coins page).
Since Binance doesn't allow for US Dollar deposits and trading, most of the volume on the exchange occurs against stablecoin pairs such as BTC/USDT, BTC/USDC, and BTC/BUSD (BUSD is Binance's native stablecoin). One other factor to note is that although Binance does have more volume than any other exchange, that volume is spread across a much larger pool of cryptocurrencies than other exchanges such as Coinbase and Kraken. Therefore, it's always important to look at the specific asset you're interested in trading in order to determine how liquid (or illiquid) it is.
Leading crypto players in India likely to meet with Indian government next week to give inputs
Binance Smart Chains to introduce gas burning mechanism like Ethereum for increasing value of tokens
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Bill Noble, chief technical analyst at TokenMetrics, a cryptocurrency analytics platform, thinks the price of Bitcoin will climb throughout the rest of the year. “I think it’s more likely Bitcoin goes to $75,000 than $25,000,” he says.